AIN has signed an initial agreement with Disney Studios to allow consumers to use the Cap That™ technology and is currently negotiating agreements with several other entertainment, sports, music and lifestyle content producers to include their video offerings within the Cap That™ platform. Additionally, AIN is working to license its technology directly to apparel and branded program companies allowing them to use the patent pending technology for their own video imaging capture and print on demand programs.
TORONTO, CANADA–(Marketwire – Nov. 29, 2011) – Intertainment Media Inc. (“Intertainment” or the “Company”) (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to announce that it continues its strategy of investing in new and emerging enterprises, with an investment in Active ImageNation Inc. (“AIN”), a Los Angeles based developer of Cap That™, a patent pending technology platform that allows consumers, studios and professionals to capture and manipulate video, creating images that can be shared socially and commercially printed on demand on a wide variety of products directly through Cap That™, as well as proprietary channel partners and licensees. Closed beta trials of the platform are currently underway and users will able to access the technology shortly at www.capthat.com.
The print on demand industry is a dynamic growing business sector which includes Zazzle.com and Cafepress.com whose users create over 186 Million unique products per year. In June 2011, Cafepress filed an S-1 to raise as much as US $80 Million in its IPO, divulging that 2010 revenues were US $128 Million.
Cap That’s™ patent pending technology empowers users to stop time and capture the most desired moments in film, television, music, sports, home videos and exclusive VideoShoots™ in order to create one of a kind posters, canvas prints, photo prints, apparel as well as virtual creations that can be easily shared across social networks.
As part of the Company’s investment in AIN, Intertainment will convert a Five Hundred Thousand US Dollars (US $500,000) promissory note already issued in favor of Intertainment. Additionally, Intertainment will invest an additional One Million Five Hundred Thousand US Dollars (US $1,500,000) into AIN for up to 33% ownership of Active ImageNation Inc. This deal is subject to all board and regulatory approvals and the negotiation of definitive documentation between the parties.
Under the terms of the investment, Intertainment’s graphic services division, Magnum, will be afforded Rights of First Refusal to develop AIN’s product programs allowing consumers and commercial clients to purchase custom printed products directly from Magnum using the Cap That™ technology.
“AIN’s patent pending Cap That™ technology gives users, from consumers to commercial partners, the ability to expand their social sharing and print on demand opportunities using dynamic video content,” said David Lucatch, President of Ortsbo / CEO Intertainment Media Inc. “AIN is strategically aligned with Intertainment’s investment principles, as it adds value to our other divisions and potentially stands alone as a tremendous opportunity for global success.”
The Company will provide further details as they become available.
About Active ImageNation Inc. – Cap That™
Cap That’s™ patent pending technology empowers users to stop time and capture the most desired moments in film, television, music, sports, home videos and exclusive VideoShoots™ in order to create one of a kind posters, canvas prints, photo prints, apparel as well as virtual creations that can be easily shared across social networks.
CapThat™ is an application and website devoted to unlocking images from video giving rise to a revolutionary consumer proposition and promotional tool.
About Intertainment Media Inc.
Connecting people with brands, Intertainment Media Inc. is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement.
Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers. Intertainment owns a number of key properties including Ortsbo, Ad Taffy, itiBiti and Magnum Fine Commercial Printing Limited.
Intertainment Media owns and operates a number of key properties including Ad Taffy, itiBiti, Ortsbo and Magnum. For more information on the Company and its properties, please visit www.intertainmentmedia.com.
Headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA, Intertainment Media Inc. is listed on the Toronto Venture Exchange under the symbol “INT” (TSX VENTURE:INT) and in the US on the OTCQX Exchange under the symbol “ITMTF”. Intertainment is also traded in Europe, on the XETRA Exchange under the symbol “I4T”.
